IMF says Fed should hold interest rates where they are until ‘at least' end of year

The Federal Reserve should wait to cut interest rates until"at least" the end of the year, according to the head of the International Monetary Fund. The U.S. is the only G20 economy to see growth above pre-pandemic levels, and"robust" growth indicates ongoing upside risks to inflation, the 190-country agency said.

U.S. economic strength during the Fed's rate-hike cycle was aided by labor supply and productivity gains, Georgieva said, while highlighting the need for"clear evidence" that inflation is coming down to the 2% target before the Fed cuts rates.

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